Thailand’s slow creep toward something that may – or may not – be a move by the military to replace the country’s government, is provoking a similarly wary response from the many foreign corporations there, as they scramble to figure out what’s going on, and whether it’ll be bad or good for business.

On Tuesday morning, the Thai military declared martial law and censored some media, moves it said were aimed at halting an increasingly violent tug of war between pro-government and opposition demonstrators that’s already stretched for seven months and pummeled the economy.

Many foreign businesses said operations were largely unaffected, though experts said companies were rushing to put crisis-management teams on standby.

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